Hi Gang,
I am 61, no kids or heirs, and recently lost my job. A pension and SS at 62 equals my spending before losing my job. I have $150K in retirement accounts and no debts except for $90K on a $300K home. I also have long term care insurance, med and dental too.
If I decide to stay where I am and not buy a condo, why can't I get a good reverse mortgage to pay it off and just stop worrying?
I am 61, no kids or heirs, and recently lost my job. A pension and SS at 62 equals my spending before losing my job. I have $150K in retirement accounts and no debts except for $90K on a $300K home. I also have long term care insurance, med and dental too.
If I decide to stay where I am and not buy a condo, why can't I get a good reverse mortgage to pay it off and just stop worrying?